Polymarket acquires startup Brahma to expand cryptocurrency and DeFi infrastructure.

Odaily Planet Daily reports that prediction market Polymarket has announced the acquisition of startup Brahma to expand its cryptocurrency and DeFi infrastructure. The specific acquisition amount was not disclosed. Polymarket expects the acquisition to improve user experience, but this move also indicates that the company, whose valuation has rapidly grown to $20 billion, is doubling down to solidify its cryptocurrency foundation. Polymarket has been using blockchain infrastructure since its inception, while its main competitor, Kalshi, primarily uses fiat currencies. (Fortune)